Advisory Business STG Partners LLC and its affiliates (collectively, “STG”) is an investment adviser based in Menlo Park, California that manages private investment funds focused on fueling innovative software, data and analytics market leaders in the mid-market. Led by William Chisholm, STG commenced operations in 2017 as a successor entity to Symphony Technology Group, LLC (“Symphony”), a registered investment adviser which was founded in 2002 by Dr. Romesh Wadhwani and William Chisholm. STG follows the same investment strategy as its predecessor entity. STG and Symphony have entered into a non-discretionary management agreement whereby STG manages the remaining Symphony funds (“Symphony Funds”) and their portfolio companies. STG serves as the investment adviser for, and provides discretionary investment advisory services to, private funds (each, a “Fund”) and to co-investment special purpose funds established to invest alongside a fund in a single portfolio company (each, a “Co-Investment Fund” and collectively with the Funds, the “Funds”, unless the context otherwise requires). STG manages two strategies within its Fund offerings, those focused on making control equity investments in lower mid-market companies (the “Allegro Funds”) and those focused on making control equity investments in mid- market companies (the “Flagship Funds”). In certain circumstances, as more fully described in Item 7 below, the Firm permits certain limited partners and third parties to co-invest alongside a Fund directly into a portfolio company. Unlike the Co-Investment Funds mentioned above, such direct co- investments are not considered Funds or clients of STG. Each Fund is affiliated with a general partner (“General Partner”) with authority to make investment decisions on behalf of the Funds. The General Partners are deemed registered under the Investment Advisers Act of 1940, as amended, and the rules and regulations promulgated thereunder (the “Advisers Act”), pursuant to STG’s registration in accordance with SEC guidance. The applicable General Partner retains investment discretion and limited partners in the Funds do not participate in the control or management of the Funds. While the General Partners maintain ultimate authority over the respective Funds, STG has been designated the role of investment adviser. For purposes of this Brochure, references to STG shall include reference to the General Partners, unless the context otherwise requires. For more information about the Funds and General Partners, please see STG’s Form ADV Part 1, Schedule D, Section 7.A. and Section 7.B.(1) Advisory Services STG provides investment supervisory services to its clients, which currently consist of the Funds. The Funds invest through negotiated transactions in operating entities, generally referred to as “portfolio companies.” Each portfolio company has its own independent management team responsible for managing its day-to-day operations, although (i) members of STG or representatives appointed by the Firm are expected to serve on the boards of, or otherwise act to influence control of the management of, such portfolio companies and will therefore have a significant impact on the long-term direction of the company, including the selection of management team members and (ii) in some cases, STG will more directly influence the day-to-day management of a portfolio company by recruiting and installing certain individuals in various leadership roles, such as chief executive officer,

chief operating officer, chief financial officer or in other roles. STG’s investment advisory services to the Funds consist of identifying and evaluating investment opportunities, negotiating investments, managing and monitoring investments and achieving dispositions for such investments. Investments are made predominantly in non-public companies, although investments in public companies are permitted in certain instances. STG’s investment advice and authority for each Fund is tailored to the investment objectives of that Fund; STG does not tailor its advisory services to the individual needs of limited partners in its Funds. The Fund investment objectives are described in and governed by, as applicable, the private placement memorandum, limited partnership agreement, subscription agreements, investment advisory agreements, side letter agreements and other governing documents of the relevant Fund (collectively, “Governing Documents”) and limited partners determine the suitability of an investment in a Fund based on, among other things, the Governing Documents. The Firm does not seek nor require limited partner approval regarding each investment decision. Limited partners in a Fund participate in such Fund’s overall investment program but may be excused from a particular investment due to legal, regulatory or other applicable constraints. In accordance with common industry practice, each Fund or its General Partner has entered into side letters or other similar agreements with certain limited partners that have the effect of establishing rights under, altering or supplementing the applicable Governing Documents, including providing informational rights, addressing regulatory matters or varying fees and carried interest, with respect to such limited partners. These rights, benefits or privileges are not always made available to all limited partners, consistent with the Governing Documents and general market practice. Commencing in September 2024, STG will make required disclosure of certain side letters to all limited partners (and in certain cases, to prospective limited partners) in accordance with the new Private Fund Rule. Side letters are negotiated at the time of the relevant limited partner’s capital commitment, and once invested in a Fund, limited partners generally cannot impose additional investment guidelines or restrictions on such Fund. There can be no assurance that the side letter rights granted to one or more limited partners will not in certain cases disadvantage other limited partners. Ownership Structure STG is principally owned by William Chisholm. Investment funds managed by Goldman Sachs Asset Management’s Petershill investment platform (collectively, “GSAM”) own a minority interest in STG not large enough to appear on STG’s Form ADV Part 1, Schedule A or B. GSAM does not have authority over the day-to-day operations or investment decisions of STG as it relates to the Funds, although it has negotiated certain minority protection and consent rights in connection with its investment in STG. For more information about the conflicts of interest inherent in third-party ownership of the management company, see Item 8. Regulatory Assets Under Management As of December 31, 2023, STG managed $11.746 billion in regulatory assets under management, all on a discretionary basis. STG managed, on behalf of affiliate Symphony, $429 million in regulatory assets under management, all on a non-discretionary basis.